Gen AI startup Neysa raised $20 M Seed funding from Matrix, Nexus and NTTVC
Matrix Partners India, Nexus Venture Partners, and NTTVC are the lead investors in Neysa, an AI cloud and platform-as-a-service startup, which has raised $20 million in seed money.
The company stated in a press release that the funding will support the observability and generative-AI-cloud platform as a service for India and international markets.
Neysa was co-founded by Anindya Das, the CTO, and Sharad Sanghi with the goal of assisting clients in the cost-effective discovery, planning, deployment, and management of their Generative AI projects as well as securing their AI landscapes in the cloud and at the edge using a consumption-based model.
According to Neysa, the adoption of generative AI in businesses in India and around the world will accelerate thanks to its integrated approach and industry vertical solutions. In the third quarter of 2024, the Mumbai-based business intends to launch its services.
“Our goal is to leverage this funding to push the limits of innovation, assisting our clients with the power of our end-to-end Generative AI PaaS ecosystem and our AI-engineered Observability Platform, in a way that provides demonstrable and tangible outcomes for their business,” said Neysa founder and CEO Sanghi.
According to CTO Das, the company is creating a future in which integrating AI will be simple, intuitive, and completely transform how humans interact with technology.
VCs are now turning their attention to this emerging market as a result of ChatGPT and several other generative AI platforms’ success. The consistent increase in venture capital funding over the previous few months, particularly in early-stage companies, is further evidence of this.
While Ema received $25 million, the second-largest funding for an early-stage startup in this field, Sarvam AI raised $41 million in a Series A round led by Lightspeed in December 2023. Another business in this space, Vodex, raised $2 million from Pentathlon Ventures and Unicorn India Ventures in its seed round.
The artificial intelligence startup Krutrim SI Designs, founded by Bhavish Aggarwal, became the fastest to achieve the unicorn tag earlier this year after winning $50 million.
